What are the two kinds of money?
Asked by Topperlearning User | 24th Apr, 2015, 07:31: AM
Standard money and bank money are the two kinds of money.
- Standard money or currency money consisting of currency notes and coins is called fiat money. It serves as money on the order of the government.
- Bank money refers to bank deposits which can be withdrawn by means of bank cheques and bank drafts.
Answered by | 24th Apr, 2015, 09:31: AM
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